Tim Hortons Inc., the Oakville, Ontario-based bakery-café chain, managed to grow its net income in the Dec. 29-ended fourth quarter, even as its decision to end its co-branded relationship with Cold Stone Creamery in Canada and close a few dozen underperforming units in the United States dampened profitability in an otherwise robust quarter. The 4,485-unit chain’s same-store sales increases of 1.6 percent in Canada and 3.1 percent in the United States outperformed full-year gains in both countries.
4Q NET INCOME
Result: $100.6 million Canadian, or 69 cents per share% Increase: 0.3% (from $100.3 million Canadian, or 65 cents per share)
4Q REVENUE
Result: $898.5 million Canadian% Increase: 10.7% (from $811.6 million Canadian)
4Q SAME-STORE SALES
% Increase at U.S. units: 3.1%
% Increase at Canadian units: 1.6%
Source: Company report
FULL YEAR NET INCOME
Result: $424.4 million Canadian, or $2.82 per share% Increase: 5.3% (from $402.9 million Canadian, or $2.59 per share)
FULL YEAR REVENUE
Result: $3.26 billion Canadian% Increase: 4.3% (from $3.12 billion Canadian)
FULL YEAR SAME-STORE SALES
% Increase at U.S. locations: 1.8%
% Increase at Canadian units: 1.1%
Source: Company report
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Contact Mark Brandau at [email protected].
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